Spotlight

Indian equity markets are poised for a cautiously positive start, with investor sentiment improving after U.S. President Donald Trump indicated that negotiations with Iran are expected to resume on Monday, reviving hopes of a diplomatic resolution following recent military tensions. Reflecting improved risk appetite, GIFT Nifty is indicating a gap-up opening at around 24,580, nearly 200 points above the previous close, signalling that the recent recovery in domestic equities could continue in today's session.

Global risk sentiment has also been supported by a sharp correction in crude oil prices as easing geopolitical concerns prompted investors to unwind the recent risk premium. WTI crude is currently trading around the $80–81 per barrel mark, nearly 6% below its recent highs, offering relief for India's inflation outlook, import bill, and corporate input costs.

Gold prices continue to hold firm, reflecting some residual demand for safe-haven assets, although the prospect of renewed diplomatic engagement has tempered concerns over a further escalation in geopolitical risks.

However, the global backdrop remains mixed. Most Asian equity markets are trading lower in early trade, with Japan's Nikkei 225 falling more than 2% and South Korea's Kospi declining over 3%, as investors remain cautious despite the pullback in oil prices. Against this backdrop, domestic markets are likely to take cues from global developments, crude oil prices, and institutional flows while attempting to build on the recent rebound.

Technical View

Nifty 50

Nifty 50 continues to hold above the 24,300 mark, indicating sustained buying interest and an improving near-term technical structure.The immediate resistance is placed at 24,400, which also coincides with the 200-day Exponential Moving Average (EMA). A decisive breakout above this level could accelerate buying momentum and open the path towards 24,500–24,600.

On the downside, 24,300 remains the first support, followed by 24,200. Holding above these levels will be crucial to sustain the ongoing recovery. However, a break below 24,200 could trigger fresh profit booking and drag the index towards the 24,000 psychological support.Overall, the near-term outlook remains constructively bullish, with 24,400 acting as the key breakout level to watch.

Bank Nifty

Bank Nifty is also expected to trade with a cautious positive bias after recovering alongside the broader market. The immediate resistance is placed in the 57,300–57,400 zone. A sustained breakout above this range could extend the rally towards 57,800–58,000.

On the downside, 56,800–56,700 remains the immediate support, followed by the 56,400–56,300 region, which is also aligned with the 100-day EMA. A break below 56,700 may revive selling pressure, while holding above these levels will keep the near-term recovery intact.

Overall, Bank Nifty continues to maintain a cautiously positive technical outlook, with traders closely watching the 57,400 breakout for further upside confirmation.